Webster Financial Corporation (NYSE:WBS) Stock Under News Radar

Webster Financial Corporation (NYSE:WBS) notched a move of -0.65% to $10.77 for the day. The total traded volume was 5212335. The stock had closed at $10.84 on the previous day. The stock made income 488.80M on sales of 1.07B. ROA sticks to 6.20% and ROI is 13.70%. Shares have moved -33.56% from its 1 Year high price and changed 6.95% from its 1 Year low price. The shares registered RSI (14) at 28.74 and ATR factor was seen at 0.52.

Webster Financial Corporation (NYSE:WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, today announced earnings applicable to common shareholders of $78.1 million, or $0.85 per diluted share, for the quarter ended March 31, 2018 compared to $57.3 million, or $0.62 per diluted share, for the quarter ended March 31, 2017.

“Webster’s first quarter results demonstrate the meaningful progress we are making on the execution of our strategic priorities,” said John Ciulla, president and chief executive officer. “Total revenues increased more than 10 percent from a year ago, driven by a 22 basis point increase in the net interest margin. Revenue growth, continuing investment, and effective risk management are enabling Webster to produce increasing levels of economic profit.”

Highlights for the first quarter of 2018:

Revenue of $282.9 million, an increase of 10.6 percent from a year ago, including net interest income of $214.2 million, an increase of 11.2 percent from a year ago.

Loan growth of $711 million, or 4.2 percent from a year ago, with growth of $654 million, or 6.4 percent, in commercial and commercial real estate loans.

Deposit growth of $1.1 billion, or 5.6 percent from a year ago, with growth of $694 million, or 14.5 percent, in health savings account deposits.

Net interest margin of 3.44 percent, up 22 basis points from a year ago.

Pre-tax, pre-provision net revenue growth of $19.4 million, or 21.1 percent from a year ago, led by HSA Bank’s growth of 59.6 percent.

Annualized return on average common shareholders’ equity of 12.15 percent compared to 9.43 percent a year ago; annualized return on average tangible common shareholders’ equity (non-GAAP) of 15.73 percent compared to 12.47 percent a year ago.

“Our ongoing balance sheet transformation is producing tangible results,” said Glenn MacInnes, executive vice president and chief financial officer. “Our loan portfolio yield is 40 basis points higher than a year ago as 52 percent of our loans reprice in 30 days or less. The cost of deposits has increased only 7 basis points as 57 percent of our deposits are in low-costing transactional and health savings accounts.”

MGIC Investment Corporation is with Insider ownership of 1.20% and institutional ownership counts to 96.30%. Shares float is 365.10M and outstanding shares are at 375.68M. The float short is currently 1.15% and short ratio is 1.01.

Leave a Reply

Your email address will not be published. Required fields are marked *